Danske Bank A S Invests $71.89 Million in Medtronic PLC $MDT

Danske Bank A S bought a new stake in Medtronic PLC (NYSE:MDT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 754,795 shares of the medical technology company’s stock, valued at approximately $71,887,000. Danske Bank A S owned 0.06% of Medtronic as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stance Capital LLC acquired a new stake in Medtronic during the third quarter valued at approximately $1,361,000. Advisory Services Network LLC raised its holdings in shares of Medtronic by 4.5% in the 3rd quarter. Advisory Services Network LLC now owns 79,432 shares of the medical technology company’s stock worth $7,565,000 after buying an additional 3,400 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its position in shares of Medtronic by 19.6% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 2,928 shares of the medical technology company’s stock worth $279,000 after buying an additional 479 shares during the period. Morningstar Investment Management LLC lifted its position in shares of Medtronic by 97.7% during the 3rd quarter. Morningstar Investment Management LLC now owns 44,991 shares of the medical technology company’s stock worth $4,285,000 after buying an additional 22,229 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in Medtronic by 47.7% in the 3rd quarter. NewEdge Advisors LLC now owns 201,108 shares of the medical technology company’s stock valued at $19,154,000 after buying an additional 64,905 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $88.50 on Wednesday. The business’s fifty day moving average is $97.54 and its two-hundred day moving average is $96.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The firm has a market cap of $113.62 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.26 and a beta of 0.71. Medtronic PLC has a 52 week low of $79.55 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.2%. Medtronic’s payout ratio is currently 79.11%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of analyst reports. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Wells Fargo & Company initiated coverage on shares of Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 target price on the stock. Citigroup initiated coverage on shares of Medtronic in a research report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 target price for the company. Finally, Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.74.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).